Yes, you should continue to make your payments while your application is in process. You will be notified when the funds have been sent to the applicable servicers.
The CARES Act was passed in response to events related to the Coronavirus pandemic and includes broad relief measures for federal student loan borrowers. If you are considering refinancing your federal student loans, please make sure to review these measures at www.studentaid.gov/coronavirus to understand your options.
All loans being refinanced must be post separation from school. Federal Education Loans: Federal Family Education Loan Program (FFELP) Subsidized or Unsubsidized (aka Stafford Loan) Grad or Parent PLUS William D. Ford Direct Loan Program Subsidized or Unsubsidized (aka Direct Stafford Loan) William D. Ford Direct Loan Program Undergraduate, Grad [...]
Consolidation means you are simply combining existing loans. Your total payment amount and total interest will likely remain the same, but you’ll have the convenience of making one payment rather than multiple payments. This type of loan is usually associated with federal government student loans. When you refinance, you are taking out a [...]